Millers sell the Jazz

[LogGrad98]

I mean the Knicks are worth like 5B and they have MSG and the biggest market in the US... So moving the Jazz to Vegas makes them worth 3-4B? Seattle maybe if he gets a nice arena in the deal but that is not easy task and there will be teams that would be in line to move before us... The NBA is into creating value to the league as a whole. Moving a team like the Grizzlies to Seattle creates way more value than moving our team there. Homeboy can't just move... it has to be approved by the NBA.

When you have made Billions already extra billions has lower utility. Becoming a villain in your home town doesn't help your legacy... once you get to a certain point legacy matters more than every penny...

So yeah the fact that he played Junior Jazz and is a legit fan of the team ****ing matters. Ballmer will end up spending a ton in luxury tax over the next few years... why? He could win a couple extra games a year or save a few hundred million... obvi he will choose the $$$$ lolz.

There is only one certain truth in the universe. All people want more money. Period. It doesn't matter how much they have now, they always want more. And when they get more, it is never enough.

 

[Beer]

You’re making a lot of salient points that I mostly agree with, but I think you are pretty dramatically underestimating the baseline or average greed of any billionaire. To amass such wealth in the first place looks like clinical hoarding to me, it’s just that the wealthy dodge any such characterization because of their standing.

I can't think of a logical reason to move the Jazz to Seattle or Tampa or Cincinnati or Pittsburgh or wherever. I guess anything is possible but there is no logical reason to do it.

 

[Hornacekamania]

There is only one certain truth in the universe. All people want more money. Period. It doesn't matter how much they have now, they always want more. And when they get more, it is never enough.

And Ballmer has so much money, owing the Clippers is all about ego. I think he wants to buy a title.

 

[NUMBERICA]

Yes and no... I think there are many megawealthy folks that give a ton of money away and are quite generous.

Sorry, had to stop there. Having a billion dollars in wealth is grotesque. Point blank, full stop. It should be the privilege of any person with such fortune to give away enough that they don’t maintain (or grow) such wealth for themselves.

I understand teams are worth billions these days and my criticism of their owners is implicit in the argument. Considering the excess that most people criticize professional sports with, it sits fine with me. Players shouldn’t be making hundreds of millions of dollars, and the only way that is fair is if owners also make less profit and have less wealth. The money that grows the league comes from people, and it is increasingly freezing out people that don’t have (or shouldn’t spend) the money from going to games or even having cable packages necessary to legally watch games. Why does the NBA need more, any of them?

There has to be a point where wealth should be overwhelmingly seen as ****ed up. Just one billion for a person is well-beyond what is even remotely sensible or sensical, especially given the exponentiating plight of the planet and the people that inhabit it, and the subsequent necessity to do something meaningful to address it.

But sure, Bill Gates does good things with his money.

 

[NUMBERICA]

I can't think of a logical reason to move the Jazz to Seattle or Tampa or Cincinnati or Pittsburgh or wherever. I guess anything is possible but there is no logical reason to do it.

That wasn’t the point of my post because, as I already said, I mostly agree. That being said, Seattle is a stronger market notwithstanding, but I am not worried.

My point was to rant about the absurdity of billionaires.

 

[green]

Gail wasn't gonna live forever so I think they had an opportunity to get a good local owner and the pandemic had created some financial incentive to do a deal now. Its all those events coming together.. It sounds like he was interested in buying other franchises but held off... he wasn't likely to wait forever.

I think franchise values are more tied to tv rights, arena deals, and attendance than who is on the books for what... that **** can change in an instant. Unless you have Lebron I'm not sure the player personnel stuff matters all that much.

The tv/revenue sharing is what really drives the value...but the contracts to play a part. That is why a lot of owners will sell off big contracts before they sell. As an owner, the less liability you have (contracts) and the more revenue you have (tv/revenue sharing) the better it looks on paper, the better the banks like it, the lower the interest rate which = more money. So buying now, before the contracts can save him millions in interest and the Millers can get millions more because of that. It's a win/win.

 

[green]

Sorry, had to stop there. Having a billion dollars in wealth is grotesque. It should be the privilege of any person with such fortune to give away enough that they should not maintain such wealth for themselves.

I understand teams are worth billions these days and my criticism of their owners is implicit in the argument. Considering the excess that most people criticize professional sports with, it sits fine with me. Players shouldn’t be making hundreds of millions of dollars, and the only way that is fair is if owners also make less profit and have less wealth.

There has to be a point where wealth should be overwhelmingly seen as ****ed up. Just one billion for a person is well-beyond what is even remotely sensible or sensical, especially given the exponentiating plight of the planet and the people that inhabit it, and the subsequent necessity to do something meaningful to address it.

But sure, Bill Gates does good things with his money.

I agree. Billionaires are not good people. Sure, once they get there they can change, but to get there...it's statistically impossible. And sacrifices have to be made. And this idea that billionaires will just start giving money away or don't care about getting more money...it's false. You don't become a billionaire by giving money away and you don't become a billionaire without pinching every penny that walks by you. They care. Didn't Gates used to send out notices to the other billionaires in the top 10 every year reminding them of where they ranked? They care. They joke about it. They want to be #1. They aren't like you and I, which is why they get there and we don't.

 

[green]

Yes and no... I think there are many megawealthy folks that give a ton of money away and are quite generous. I think part of the reason to amass wealth is ego... ego and status can be acquired a lot of ways. Ryan can be the toast of the town and hang out with the team and is now a lot more "famous" than he was before.

If you were purely looking at dollars and cents buying a sports franchise at current values is not the easiest way to make a bunch of extra money. There would be lots of other investments with higher potential/yield and you may not have to tie up as much of your wealth to invest in them.

I realize values have gone up like crazy the last 20 years, but that growth is likely not sustainable and has some real threats... so it likely goes up in value but I'm sure there are better opportunities to make money right now.

One thing to remember is that the ESPN contract/tv deal is what drove the values of the franchises through the roof. I doubt the next deal will be as lucrative for owners. That will slow the value.

 

[NUMBERICA]

I agree. Billionaires are not good people. Sure, once they get there they can change, but to get there...it's statistically impossible. And sacrifices have to be made. And this idea that billionaires will just start giving money away or don't care about getting more money...it's false. You don't become a billionaire by giving money away and you don't become a billionaire without pinching every penny that walks by you. They care. Didn't Gates used to send out notices to the other billionaires in the top 10 every year reminding them of where they ranked? They care. They joke about it. They want to be #1. They aren't like you and I, which is why they get there and we don't.

It’s too much money to spend over several lifetimes of unimaginable extravagance. To continue building it is obsessive compulsion at best and malignant narcissism at worst.

 

[Mongoose]

Smart move by the Millers... The way the league has been managed and openly political I'm sure they have felt rather alienated at times. The way the league is going there is less and less room for a team in a conservative place, if the league doesn't fold first.

 

[green]

It’s too much money to spend over several lifetimes of unimaginable extravagance. To continue building it is obsessive compulsion at best and malignant narcissism at worst.

I completely agree. I think we've (as a society) have become desensitized to the number "billions" and don't realize how huge that number is. People don't realize how obscene it is and disgusting it is.

This put it into perspective for me:
1,000 seconds = .01 days
1,000,000 seconds = 11.6 days

Pretty big difference between one thousand and one million. A week and a half.
1,000,000,000 secons = 11,574 days.

So one million seconds is a week and a half. One billion seconds is almost 32 years.

It's an obscene number. And to try to achieve that level, with all the suffering and poverty in the world...

 

[green]

Smart move by the Millers... The way the league has been managed and openly political I'm sure they have felt rather alienated at times. The way the league is going there is less and less room for a team in a conservative place, if the league doesn't fold first.

So, because the league said their employees shouldn't be afraid of being murdered by cops...they are turning their backs on conservatives? Yikes. If conservatives feel that way...y'all are messed up.

 

[Nate505]

Wow. Happy they sold it to Smith though. Can't see him wanting to move.

 

[LoPo]

Can we please just celebrate? The family that saved the Jazz just sold the team to a Jazz fan. Not just some rich dude. Not some wealthy family. They just sold the franchise to a fan.

This is incredible news. This probably the best franchise news since Stockton hit the series winner over Houston. It might be even bigger.

 

[NUMBERICA]

Can we please just celebrate? The family that saved the Jazz just sold the team to a Jazz fan. Not just some rich dude. Not some wealthy family. They just sold the franchise to a fan.

This is incredible news. This probably the best franchise news since Stockton hit the series winner over Houston. It might be even bigger.

I mean, we don’t know how he’s gonna run the team but I think the stuff we do know is relatively quite good. I’ll reserve meaningful judgment until we have any meaningful information to work with.

 

[Jazzmix]

What are the odds this dude has a JFC account?

If it happened to be true it could be a cool thing but it could also mean a total disaster lol.

 

[Mongoose]

So, because the league said their employees shouldn't be afraid of being murdered by cops...they are turning their backs on conservatives? Yikes. If conservatives feel that way...y'all are messed up.

ya dumbass that's what I'm saying on behalf of all conservatives... I'm saying trying to own a team in a conservative place in a league that is increasingly further left leaning has got to have challenges. The goals and politics of the Utah Jazz cant always align with the league as a whole especially if the league wants to continue to be more and more liberal, it's got to feel alienating at times. If you cant see that you are blind.

 

[outerspacefan]

I think the NBA has changed so much that franchises like the Utah Jazz just got to take the little windows they get to go for it all. To accomplish, Jazz will need money to go probably deep into tax land for 2 or 3 seasons. The Miller's, for good reason, would have never done it. Younger dudes, Utah rooted, available cash to make a dream come true... it just might work well.
Good riddance to the Millers.

 

[framer]

What are the odds this dude has a JFC account?

Bad news. He does and he's LOPO. Trades incoming!!!!!

 

[framer]

I hope so. I hope he's one of us. And I'm excited for him and the franchise.

He's LOPO confirmed!!